I respectfully disagree at this time because if I read the S&P downgrade correctly, S&P are saying they downgraded us because Republicans won’t raise taxes. If I’m wrong, I’ll be glad to admit it, but watch for this to be played heavily on the Sunday morning talk circuit. Remember, S&P donated heavily – if not completely – to Democrats.

The downgrade is likely to have little to no impact on how the United States finances its borrowing, through the sale of Treasury bonds, bills and notes. This week’s buying proves that.
“Investors have voted and are saying the U.S. is going to pay them,” said Mark Zandi, chief economist of Moody’s Analytics. “U.S. Treasurys are still the gold standard.” He noted that neither his parent organization, Moody’s, nor Fitch, the other of the three major rating agencies, have downgraded U.S. debt.
Japan had its ratings cut a decade ago to AA, and it didn’t have much lasting impact. The credit ratings of both Canada and Australia have also been downgraded over time, without much lasting damage.
“I don’t think it’s going to amount to a lot,” said Peter Morici, a University of Maryland business economist.
Still, he said, “The United States deserves to have this happen,” because of its clumsy handling of fiscal policy.

Of course AP contributed to that report so take it for what it’s worth.

The “two trillion dollar math error” was a calculation by S&P that the U.S. debt would be $22.7T by 2021. The CBO says it will “only” be $20.7T by 2021. Want to bet me now who will be right by 2021? My guess is neither since inflation will most certainly be outside the range of error in today’s math. What a bunch of fricken geniuses at both Treasury and S&P. Oh, wait, I left out the White House. My bad.

Barney the Bad Clown from Massachusetts was on television this morning attacking the messenger, Standards and Poor. He said S&P lacked credibility because they didn’t downgrade the bad actors in the sub-prime crime spree.
Bad Clown didn’t mention his own criminal malfeasance in the whole matter. S&P could claim that they didn’t downgrade in the sub-prime fiasco because they trusted Barney the Bad Clown’s reassurrances that everything was fine.

I find the “white accountants” meme the funniest, not sure why. Holder has probably already launched an investigation. (David Steinberg, you are probably already on the grand jury’s list of witnesses–don’t answer the door!)

Perhaps the ‘prompterPrez will see this as proof that he was right all along about American exceptionalism. Maybe this grade deflation is because he doesn’t look like other presidents. And the Republicans are meaner to him than to anyone else, evah! Or maybe he’ll try to argue this is actually better because an ‘AA+’ is better than ‘AAA’, right?

Gotta catch some shut-eye before the morning shows tomorrow. The BS-meter is being recharged as well, darn thing just about burnt itself up with all those recent speeches. Had to unplug the meter entirely when Carney insisted the bus tour through swing states was unrelated to BHO’s re-election campaign.